Pizza Chain Filed Antitrust Lawsuit Against Visa, Mastercard
A new class action lawsuit alleges that major credit card networks and banks have conspired to inflate transaction fees.
Updated on Oct. 1, 2026 in Credit Cards
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The Pizza Standard filed a class action complaint in Brooklyn federal court, alleging that Visa, Mastercard, and several major banks engaged in an ongoing conspiracy to inflate transaction fees. The case, which includes 84 counts of antitrust violations, seeks court-ordered damages for the merchant class.
Why it matters
The lawsuit claims that current merchant fees are artificially high due to a cartel structure involving the largest card networks and issuing banks. This ongoing dispute over interchange and network fees affects how merchants manage the costs of processing credit card payments.
The lawsuit cites an 84-count complaint against multiple financial entities, following a previous $5 billion antitrust settlement reached in 2019. The full financial scope of potential damages for current merchants remains to be determined by the court.
The players
Visa
A global payments technology company that operates networks processing consumer credit and debit transactions.
Mastercard
A financial services corporation that facilitates electronic fund transfers between the card issuers of merchants and cardholders.
Bank of America
A major financial institution that issues credit cards and provides merchant services to businesses.
The Pizza Standard
A restaurant chain based in San Diego that has only accepted Visa and Mastercard payments since 2021.
The details
Merchants are charged interchange and network fees on every credit card transaction they process. The plaintiff alleges that a cartel formed by Visa, Mastercard, and major banks—including Bank of America, Capital One, Chase, Citibank, and Wells Fargo—creates these inflated costs. The lawsuit claims these issuing banks represent the vast majority of all cards currently in circulation.
Timeline
2005: Original litigation against the credit card industry began.
Jan. 24, 2019: Cutoff date for merchant harm eligibility in the previous settlement.
2021: The Pizza Standard began accepting Visa and Mastercard payments.
March 2023: The Second Circuit affirmed the 2019 antitrust settlement.
Wednesday, Sept. 30, 2026: The class action lawsuit was filed in Brooklyn.
Money Landscape
This lawsuit follows the pattern established by the 2019 antitrust settlement regarding credit card interchange fees. It marks a new chapter in long-standing legal efforts to challenge the pricing power of the dominant networks.
While this litigation focuses on merchant costs, it highlights the complex fee structures that underpin credit card processing in the United States. Readers should consult with a financial professional to understand how business processing fees can indirectly influence consumer prices at the register.
The takeaway
This case highlights the ongoing tension between retailers and major payment networks over the costs of processing electronic transactions. Keep an eye on future court rulings regarding the 84-count complaint to see if the legal landscape for merchant fees shifts.
Further reading
For more background on how network fees impact consumer transactions, visit Credit Cards.
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Should the government implement stricter regulations on the fees credit card companies charge to merchants?
